Penalty Cannot Survive After Assessment Is Set Aside

Anshu Priyadarshini Vs ITO (ITAT Delhi) When Assessment Falls, Penalty Can’t Stand: ITAT Delhi Quashes 271(1)(c) Penalty After De-novo Remand The Delhi ITAT “SMC” Bench, comprising Shri Vikas Awasthy (Judicial Member), allowed the appeal of Anshu Priyadarshini for AY 2011-12 and set aside the penalty levied u/s 271(1)(c), holding that the penalty proceedings could not survive once the underlying assessment was restored for de-novo adjudication The penalty had been levied on additions made in the assessment order dated 15.12.2018 passed u/s 144/147. However, the Tribunal had earlier, in t...